Securities and Exchange Commission (Insider Trading Prohibition) Rules, 1995 (Amendment)

No. SECI/CMARRCD/2001-26/332 Date: 11th July 2004

Notification

Under the powers conferred by Section 24 of the Securities and Exchange Commission Act, 1993 (Act No. 15 of 1993), the Securities and Exchange Commission has amended the 'Securities and Exchange Commission (Prohibition of Insider Trading) Regulations, 1995' as follows:

1. The short title 'Securities and Exchange Commission (Prohibition of Insider Trading) Regulations, 1995' mentioned in Regulation 1 shall be read as 'Securities and Exchange Commission (Prohibition of Insider Trading) Rules, 1995', and wherever 'Regulations' or 'Regulation' is mentioned, 'Rules' or 'Rule' shall be read respectively.

2. The existing rule under the heading of Rule 4 shall be deemed as sub-rule (1), and the following new sub-rule (2) shall be appended:

"(2) No sponsor, director, employee or officer, auditor or person connected with the audit, advisor or legal advisor, or any person mentioned in Section 12 of the Companies Act, 1969 (Act No. 19 of 1969) of a company listed on the Stock Exchange may purchase, sell, or otherwise transfer or acquire shares of such company during the period from the date of the end of the financial year of such company until the date on which the accounts are finally considered, adopted, or approved by the Board of Directors (Board of Directors) of such company."

For the Securities and Exchange Commission:
Dr. Mizarul Islam
Chairman